Guideline Value for MGR SALAI (WARD -6)

Mgr Salai (Ward -6) guideline value

The current guideline value of Mgr Salai (Ward -6) is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Sattamangalam village and falls under the Chengleput Joint II SRO. The land classification for this area is Residential Special Type - I.

How the guideline value of Mgr Salai (Ward -6) has changed

The guideline value for Mgr Salai (Ward -6) has undergone several revisions over the years. In 2012, the value was Rs 2,000 per sq.ft, which decreased to Rs 1,340 per sq.ft in 2017. The value then increased significantly to Rs 2,000 per sq.ft in 2023, before reaching the current rate of Rs 2,200 per sq.ft in 2024. Notably, there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

From 2012 to 2017, the guideline value decreased by 33%. However, it saw a remarkable increase of 49% from 2017 to 2023. The most recent change from 2023 to 2024 reflects a 10% increase, resulting in an overall increase of 10% from 2012 to 2024.

Guideline values in Sattamangalam

Sattamangalam village has a total of 425 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 440 to Rs 2,200 per sq.ft as of 2024. The median guideline value in this village is Rs 1,100 per sq.ft, placing Mgr Salai (Ward -6) above this median value.

• Mettu Street (Ward -2): Rs 440 per sq.ft (2024)
• Mettu Street (Ward -19): Rs 440 per sq.ft (2024)
• Mettu Street (Ward -15): Rs 440 per sq.ft (2024)
• Mosqure Street (Ward -17): Rs 550 per sq.ft (2024)
• Meenakshi Sundaranar Street (Ward -7): Rs 1,320 per sq.ft (2024)
• M.T.C. Nagar (Pa): Rs 990 per sq.ft (2024)

Stamp duty and registration fee for property in Mgr Salai (Ward -6)

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total fees to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Mgr Salai (Ward -6)?

The Sub Registrar Office that covers Mgr Salai (Ward -6) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone.

You can find your SRO for more information.

How the guideline value is used when you buy or sell in Sattamangalam

The guideline value plays a crucial role in property transactions in Sattamangalam. It is used to determine the stamp duty and registration fees applicable when buying or selling property. The fees are calculated based on the guideline value or the sale price, whichever is higher.

Understanding the guideline value is essential for buyers and sellers to ensure compliance with local regulations and to accurately assess the costs involved in property transactions.

Frequently asked questions

What is the current guideline value of Mgr Salai (Ward -6)?

The current guideline value of Mgr Salai (Ward -6) is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then back to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024.

What is the land classification for Mgr Salai (Ward -6)?

The land classification for Mgr Salai (Ward -6) is Residential Special Type - I.

How is the stamp duty calculated for properties in Mgr Salai (Ward -6)?

Stamp duty for properties in Mgr Salai (Ward -6) is calculated at 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Mgr Salai (Ward -6)?

The Sub Registrar Office for Mgr Salai (Ward -6) is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, under the Chengleput Joint II SRO.